Reliance Industries Limited and CSR activities
SCHOOL OF BUSINESS AND LAW
SCHOOL OF BUSINESS AND LAW
mohammad usman majedyar
STUDENT ID: B0203DODO0811 LECTURER: DAVID MWAURA COURSE MODULE: BA3 (BUSINESS MANAGEMENT STUDIES mohammad usman majedyar
STUDENT ID: B0203DODO0811 LECTURER: DAVID MWAURA COURSE MODULE: BA3 (BUSINESS MANAGEMENT STUDIES 08
Flagrantly, nowadays CSR approach has been immensely exploited by the organizations and non-governmental organizations in a negative manner since the global markets are becoming competitive. The term corporate social responsibility has become a trend of symbols to explicit the company’s corporation as being socially responsible, however intrinsic intention has been self-regulation and private interest of the company. Hence, the reliance industry limited has taken the corporate social responsibility as their mainstream of profit maximization in terms of being socially responsible to educational, environmental, health care, and agricultural perspectives.
The aim of this report is to apply sufficient knowledge’s for the importance of (CSR) and its contribution to strategic corporations, critically review the (CSR) functions of businesses as well as delivering efficient information regarding the (CSR) activities of Reliance Industries Ltd. To demonstrate the above objectives it is essential to explain what is meant by CSR? What are the objectives of CSR? And furthermore brief description of Reliance Industries Ltd profile. In recent years, there has been greater attention to the concept of Corporate Social Responsibility. The term is described as the businesses responsibility towards their stakeholders’ legal, ethical, social and environmental expectations. Different scholars have defined (CSR) in various ways. First effort for defining (CSR) was made by Bowie (1953) who was observed as the father of academic debate for Corporate Social Responsibility (Carroll 1979, p.479). Bowie stated, that it is the businesses obligation to manage business process for the betterment of a society and enhancement of its value. Moreover, World Business Council for Sustainable Development (WBCSD) illustrated CSR as the commitment of business while behaving ethically and cooperating to the economic development by strengthening the quality life of workforce, families and local communities. Furthermore, Davis and Blomstorm elaborate the term CSR as an activity in order to improve the quality life of a society as well as developing the status of the organization by expanding its interest. However, Carroll defined (CSR) “Social responsibility of business encompasses the economic, legal, ethical and discretionary expectations that society has of organizations at a given point in time” (Carroll, 1979, p.500). Relatively, Carroll illustrated the pyramid of CSR by differentiating the four concept of social responsibility: economic, legal, ethical and philanthropic obligations. To sum up CSR can be defined, managing the business processes with being responsiveness to the economic, legal, ethical and environmental expectations of stakeholders so that to produce a positive impact to the society. Consequently, as far as the report do concerns to the CSR activities of Reliance Industries Ltd, it is important to take a look after the mentioned company’s profile. The largest private sector of India,...